Hartford Investment Management Co. Sells 418 Shares of Marathon Oil Co. (NYSE:MRO)

Hartford Investment Management Co. lessened its position in shares of Marathon Oil Co. (NYSE:MRO) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,656 shares of the oil and gas producer’s stock after selling 418 shares during the period. Hartford Investment Management Co.’s holdings in Marathon Oil were worth $950,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new position in shares of Marathon Oil during the 2nd quarter worth about $26,000. Founders Capital Management boosted its stake in shares of Marathon Oil by 100.0% during the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 500 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Marathon Oil during the 2nd quarter worth about $29,000. Grove Bank & Trust boosted its stake in shares of Marathon Oil by 77.4% during the 2nd quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 465 shares during the last quarter. Finally, Hilltop National Bank boosted its stake in shares of Marathon Oil by 89.5% during the 2nd quarter. Hilltop National Bank now owns 1,620 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 765 shares during the last quarter. Institutional investors own 77.24% of the company’s stock.

Analyst Ratings Changes

MRO has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Marathon Oil from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Citigroup cut their target price on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company cut their target price on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. StockNews.com assumed coverage on shares of Marathon Oil in a research note on Tuesday. They issued a “buy” rating for the company. Finally, Mizuho cut their target price on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Marathon Oil currently has an average rating of “Moderate Buy” and a consensus price target of $31.12.

Marathon Oil Trading Up 0.2 %

Shares of MRO stock opened at $26.47 on Friday. The firm has a 50 day moving average price of $27.42 and a two-hundred day moving average price of $27.60. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $14.80 billion, a PE ratio of 10.30 and a beta of 2.16. Marathon Oil Co. has a 12-month low of $21.81 and a 12-month high of $30.06.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.06). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business earned $0.48 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. As a group, analysts predict that Marathon Oil Co. will post 2.43 earnings per share for the current year.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 annualized dividend and a dividend yield of 1.66%. Marathon Oil’s dividend payout ratio is presently 17.12%.

Insider Transactions at Marathon Oil

In other news, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the transaction, the vice president now directly owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value of $1,430,220.00. Following the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at $2,750,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the transaction, the vice president now directly owns 76,828 shares in the company, valued at $2,090,489.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

About Marathon Oil

Marathon Oil Corporation, an independent exploration and production company, engages in exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas in the United States and internationally. The company also produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol.